What's a Hanging Man Candlesticks Pattern?
What Does Hanging Man Candle Mean? - Hanging Man Candle Definition
Hanging Man stock indices candlesticks pattern is a potentially bearish reversal stock indices signal which occurs during a upwards indices trend. It's named so because it looks like a man hanging on a noose up high.
A hanging man candlestick has:
- A small body
- The body is at the top
- The lower shadow is two or three times length of the real body.
- Has no upper shadow or very small upper shadow if present.
- The color of the body is not important
What is Hanging Man Candlestick in Indices Trading? - Hanging Man Stock Indices Candle Pattern - Indices Candles Pattern
Technical Analysis of Hanging Man Stock Indices Candlesticks
The sell stock indices signal is confirmed when a bearish candlestick closes below the open of the candle on leftside of this hanging man stock indices trading candlestick pattern.
Stop orders should be placed a few pips just above high of hanging man candlestick.
